Which Key Players hold a major share of global Liver Cancer Diagnostics Market?

Posted on 2022-09-19 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Sept 19, 2022 — /EPR Network/ —

Liver Cancer Diagnostics Industry Overview

The global liver cancer diagnostics market size was estimated at USD 9.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.5% from 2021 to 2028.

Liver cancer is one of the leading causes of cancer-related deaths around the world. According to the American Cancer Society, in the past few decades, the incidence rates of liver cancer have more than tripled and the death rates have more than doubled during this time. As per the same source, in 2021, around 42,230 new cases of liver cancer are expected to be diagnosed in the U.S., which will lead to around 30,230 deaths. The major risk factors for this disease include chronic viral hepatitis, Cirrhosis, heavy alcohol consumption, tobacco consumption, and obesity. Early screening and diagnosis of liver cancer is the core stone for the control of related mortality, thus, creating a high demand for innovative diagnostics tests.

Gather more insights about the market drivers, restrains and growth of the Global Liver Cancer Diagnostics market

Accurate detection of the progression of liver cancer is very important for the selection of appropriate treatment. Catering to the increased demand extensive initiatives have been undertaken by various companies and institutions to develop and launch innovative solutions for the early detection of this disease. In March 2020, Roche received the FDA’s Breakthrough Device Designation for its new Elecsys GALAD score. Elecsys GALAD score is designed to support clinicians by providing them with a timely and accurate diagnosis of hepatocellular carcinoma. Similarly, in November 2019, EXACT Sciences Corporation received the FDA’s breakthrough designation for its blood-based test for early detection of liver cancer. Also, in June 2019, CancerSEEK a liquid biopsy test was designed by the researchers at Johns Hopkins University. The test was designed to diagnose multiple cancers including stomach, liver, ovarian, and esophageal among others an early stage, facilitating early treatment.

Moreover, a rise in the number of programs to raise awareness about the early diagnosis of liver cancer is also expected to be a key factor responsible for increasing the demand for its diagnostic products worldwide. In 2018, the National Cancer Institute (NCI) funded a research program at Michigan Medicine to alter the existing liver cancer surveillance and facilitate early detection of liver cancer in the U.S. Also, collaborations and partnerships undertaken by the National Cervical Cancer Coalition, WHO, CDC, the U.S. Preventive Services Task Force, and others for increasing liver cancer screening are among the major factors expected to boost market growth during the forecast period.

However, the high cost of technologically advanced liver cancer diagnostic solutions is anticipated to be a major factor impeding the growth of the market for liver cancer diagnostics. Expensive diagnostics solutions are not easily affordable in developing countries such as Brazil, India, and South Africa. In addition, insurance and reimbursement policies for diagnostic tests are not well-defined in these developing economies. Thus, the patients belonging to the middle-income population, which are generally not covered under any insurance scheme, cannot afford these tests easily.

Browse through Grand View Research’s Clinical Diagnostics Industry Research Reports.

Central Lab Market – The global central lab market size was valued at USD 2.84 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 6.7% from 2022 to 2030.
India Malaria Diagnostics Market – The India malaria diagnostics market size to be valued at USD 27.5 million by 2026 and is expected to grow at a compound annual growth rate (CAGR) of 5.4% during the forecast period.

Liver Cancer Diagnostics Market Segmentation

Grand View Research has segmented the global liver cancer diagnostics market based on test type, end-use, and region:

Liver Cancer Diagnostics Test Type Outlook (Revenue, USD Million, 2016 – 2028)

Laboratory Tests
Imaging Tests
Endoscopy
Biopsy
Others

Liver Cancer Diagnostics End-use Outlook (Revenue, USD Million, 2016 – 2028)

Hospitals & Diagnostic Laboratories
Academic & Research Institutes
Pharmaceutical & CRO Laboratories

Liver Cancer Diagnostics Regional Outlook (Revenue, USD Million, 2016 – 2028)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Liver Cancer Diagnostics market include

Abbott Laboratories
Hoffmann-La Roche Ltd.
Qiagen N.V.
Thermo Fisher Scientific, Inc.
Siemens Healthineers
Becton Dickinson & Company
Illumina, Inc.
Koninklijke Philips N.V.
Epigenomics AG
Fujifilm Medical Systems U.S.A., Inc.

Order a free sample PDF of the Liver Cancer Diagnostics Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Matched content

Editor’s pick